I sold some stock I received from an employer back in the 1980s (I think).

[BakersfieldBobT]

It may have been part of an ESOP or PAYSOP and the company doesn't seem to have records. My 1099-B shows no information for Date Acquired, and the cost is listed as 0.00.  Do I need the date acquired to file my taxes?  If so, can I guess?  What about the cost information?  Will the IRS (and TurboTax accept a cost of 0?

The amount is small (I only sold 15 shares as a test), but I'm retired and plan to live off the sale of the rest for the next few years so I need to get this resolved this year.

[HelenC12 · Accepted solution]

Yes, the IRS and TurboTax will accept a stock cost basis of $0 but it would be better to list a dollar amount so you're not paying taxes on 100% of your stock sale.

Yes, the IRS will accept an estimate. Just document how you came up with the estimate share price and purchase date. . Since you had the stock since the 80's, your stock is long term and subject to capital gains taxation. 

Please see the FAQ's below to help you come up with a "best guess estimate" of your cost basis and date acquired.

• How do I find a stock's cost basis if I don't know when it was purchased?
• How do I find a stock's cost basis?